Black pepper futures hit the lower circuit and settled with losses of over four per cent on heavy selling by traders during panicky intraday session on the NCDEX Wednesday. NCDEX August black pepper dropped Rs 601 to close at Rs 14,430/quintal. Benchmark September contract ended down Rs 614 at Rs 14,752/quintal. Volume in July and August contracts was 6936 tonnes and 6475 tonnes respectively. Now support for the pepper is seen at 14212 and below could see a test of 13993. Resistance is now likely to be seen at 14867, a move above could see prices testing 15303.

Trading Ideas:

TRADING RANGE IS 13993-15303.
BUY PEPPER AUG ABV 14500 SL 14380 TGT 14565-650-712-780. NCDEX